Gauging the Coriander Market
The anticipation of an increasing surge in coriander prices brings hope and hesitation to the market. Projections hint at an increase after March 15, a delicate balance crucial for market stability.
Gujarat’s Bounty, MP-Rajasthan’s Pilferage
With an estimated 4.5-5.0 million bags of coriander in Gujarat, concerns arise over a potential pilferage of 6.0 million bags in MP-Rajasthan. Awaiting the aftermath, exporters weigh the prospects of a fruitful week post the new coriander harvest.
Price Plunge Becomes A Waiting Game for Exporters
Current coriander prices are declining, with export quality pegged at $0,90 or €0,83 per kg for export quality and $0,88 or €0,81 per kg for local rates. Foreseeing a minor increase, exporters tread cautiously, hoping for a delayed surge after March 15 to bolster long-term market resilience.
Stock Jugglery and Carryover Mysteries Of Coriander
Coriander stocks, currently at 7.0 million bags, are expected to dwindle to 6.0-6.5 million carryover bags. Gujarat’s carryover stock, a significant player, is predicted to stand at 2.0 million bags. The market braces for a shift as old stocks find their way out.
Global Markets and Import Complexities
Coriander exports have increased, with an estimated 30-35 thousand tonnes exported. However, the intricate dance of global trade sees challenges, from rising freight rates due to the Red Sea incident to the complexity of import deals with Russia. Exporters weigh the risks and rewards.
Price Projections and Exports
Industry experts foresee a potential increase in new season coriander prices. As the export market steers the aftermath of the Red Sea incident, cautious optimism lingers, with eyes set on the evolving changes of the coriander trade.
Market Pulsations Of Madhya Pradesh
Madhya Pradesh experiences a subtle shift in coriander prices, with variations in quality. Farmers grapple with the aftermath of reduced sowing while the market patiently awaits the delayed new season’s income, hinting at a potential price hike.
Outlook and Anticipation
The coriander crop, estimated at 1.05 crore bags, sets the stage for a price surge in the new season. As stockists redirect their investments and the export market flourishes, the coriander market anticipates a flavorful journey ahead.
Conclusion
Exporters anticipate a price surge post-March 15, balancing optimism and caution. With 4.5-5.0 million bags in Gujarat and concerns of pilferage in MP-Rajasthan, exporters await a fruitful post-harvest week. Price decline prompts careful consideration while stocks dwindle to 6.0-6.5 million bags. Export complexities persist due to rising freight rates. The new season promises a potential price hike, setting the stage for market fluctuations.